Whilst we may be treading water at CVN the longer term bodes well for oil prices. Below is an extract from a briefing from a market watcher. Finding an extra 4m b/d is going to be a hard ask as exploration falls away and fields decline. I believe OPEC production is at the max with low CAPEX in new fields etc. Russia can't sell all it's production so the tight market should continue for a while. A perfect storm may be ahead of us. Could POO go above USD100 again? A good chance IMO. We just have to be a bit more patient.
State of Treading Water, page-151
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Last
19.0¢ |
Change
-0.005(2.56%) |
Mkt cap ! $339.9M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 19.0¢ | $801.7K | 4.134M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 1776385 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.5¢ | 114832 | 3 |
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| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| CVN (ASX) Chart |